MAGNA Electronics signs agreement with IBM to support / MAGNA’s new embedded vehicle electronics business

(PresseBox) (Sailauf, 13.09.2006)Magna Electronics, an operating unit of Magna International Inc., and IBM announced today the signing of a five-year collaborative agreement for IBM to support Magna’s entry into the rapidly growing market of vehicle electronic systems.

Magna Electronics and IBM’s Technology Collaboration Solutions will partner in systems design, software development and engineering to enhance Magna Electronics’ vehicle-based computing systems. This collaboration enables both companies to best compete in the growing electronics sector through the synergy of IBM’s extensive technical resources in information technology with Magna’s recognized expertise in the automotive industry.

“By combining the respective expertise of IBM and Magna Electronics, we expect to bring vehicle electronic systems with enhanced innovative features and functions to the automotive market more quickly and efficiently”, said Matthias Arleth, Vice President of Magna Electronics Europe.

“Advanced vehicle electronics and software have become crucial to automakers and their ability to differentiate their products in an increasingly competitive marketplace,” said Adalio Sanchez, General Manager, IBM Technology Collaboration Solutions. “Pairing IBM’s software expertise with Magna’s automotive expertise enables a new level of highly reliable, embedded systems innovation.”

About Magna Electronics:
Magna Electronics was formed in 2005 to better serve customers by combining the electronics expertise of Magna’s automotive units. Magna Electronics provides driver assistance systems, safety systems, wireless connectivity, power systems and body electronics. More information about Magna Electronics is available at www.magna.com.